Woori Bank will reduce the preferential interest rates on credit loans as part of strengthening its household loan management. On the 4th, Woori Bank announced that starting from the 5th, it will lower the preferential interest rates for various credit loan products by up to 0.5 percentage points.
The maximum preferential interest rate for products like “Woori Main Transaction Employee Loan,” “Woori WON Employee Loan,” and “Woori Special Loan” will be adjusted from 1.7 percentage points to 1.2 percentage points. The “Woori WON Plus Employee Loan” will be reduced from 1.5 percentage points to 1.0 percentage points, the “Cham Military Preferential Loan” and “Woori First Salary Credit Loan” will be adjusted from 1.2 percentage points to 0.7 percentage points, and the “Senior Plus Woori Pension Loan” will be adjusted from 1.0 percentage points to 0.5 percentage points, respectively.
Moreover, the maximum preferential interest rate for the credit loans of outstanding contract company employees (PPL) will be lowered from 1.6 percentage points to 1.4 percentage points.
Woori Bank also imposed a restriction from the 1st of this month, limiting the loan ceiling for nine types of credit loan products to within 100% of the borrower’s annual income, down from a previous limit of 150-200%. Additionally, since the 30th of last month, the bank has partially suspended the sale of credit loan products through non-face-to-face channels.